Financial Reports: CDW, Sharper Image

Record 1Q for CDW

Vernon Hills, IL- based CDW Computer Centers (Nasdaq: CDWC) reported record first-quarter earnings per share and record sales.

For the three months ended March 31, the computer reseller had sales of nearly $1.02 billion, up 2% from $1.00 billion for the first quarter of 2002. Earnings per share were $0.49, an increase of 9% from a year earlier. And net income was $42.4 million, up 4% from $40.8 million for the first quarter of 2002. Public-sector revenue rose 16%, which the company said more than compensated for a slight dip in corporate sales.

Accounting Corrections Boost Sharper Image Earnings When companies report that they’ve had to make accounting corrections, the restated figures usually show a weaker bottom line. But that’s not the case for San Francisco-based Sharper Image (Nasdaq: SHRP). Because of accounting corrections, the cataloger/retailer of high-tech gadgets is reported net earnings for fiscal 2002 of $15.9 million, up from the preliminary report of $15.4 million.

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